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India’s DeepTech Start-ups – Poised for Impact

“India’s DeepTech Start-ups – Poised for Impact” analyses the Indian DeepTech landscape, enumerates the characteristics that differentiate a DeepTech start-up vis-a-vis a tech start-up and highlights the key trends and stakeholder priorities for strengthening the ecosystem further. It covers challenges that the founders/start-ups face, that require immediate attention and recommendations that can fuel further growth of the sector. The report through use cases and case studies endeavors to showcase the uniqueness of the solutions/ products and also social impact it can create

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Key Findings

DeepTech Ecosystem Landscape
  • Vibrant Ecosystem: 3000+ DeepTech start-ups growing at 53% CAGR over last ten years
  • Top Adopters: ~1/3rd DeepTech start-ups belong to Enterprise Tech and BFSI
  • Fast Growing Funding: > $2.7 Bn funding raised in 2021, 1.6X over 2020
  • Inventive DeepTech: ~500 Inventive DeepTech start-ups, have 1.4X higher DeepTech talent
Tech Stack Trends
  • Artificial Intelligence: >50% AI start-ups building solutions on interface layers; Computer vision dominates AI application usage
  • Big Data & Analytics: ~50% of Big Data stack building solutions around Business Intelligence, predictive analytics and Data Science
  • Internet of Things: Platform and Network layer accounts for >50% of solutions in IoT; home automation products and energy management platforms are the top use cases
  • Blockchain: Dominated by service layer and solutions across value chain tracking, smart contracts, digital identity etc.
Potential Impact
  • 2nd Gen Entrepreneurs: Large DeepTech firms giving rise to second-generation entrepreneurs
  • Job creation: 4000+ people employed across 14 potential DeepTech unicorns in India; 2X increase in headcount expected by 2026
  • Achieving SDG goals: From smart manufacturing to reliable healthcare; DeepTech creating solutions for sustainability goals
  • Mainstream impact: Data sovereignty, staff augmenting, resource management, transparency & traceability
Recommendations for scaling up DeepTech in India
  • Access to seed capital and thematic funds: Dedicated DeepTech thematic funds that can address vulnerability
  • Market access and PoC Led Engagements: PoC support program for Indian start-ups to explore global markets
  • Enhancing Technology Business Incubators: Need for corporate, VC and community backed incubators for enhancing outreach and driving innovation
  • Academia Collaboration: Focused curriculums to develop select skillsets for bridging talent gap

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